GDPC does not Granger cause oil | 30.988*** (0.0000) | 3.478 (0.1757) | 5.266* (0.0718) |
Panel D: electric power consumption |
|
|
|
Elec does not Granger cause CO2 | 13.939*** (0.0030) | 7.920** (0.0191) | 17.530** (0.0036) |
CO2 does not Granger cause elec | 6.444* (0.0919) | 3.514 (0.1725) | 16.185*** (0.0063) |
GDPC does not Granger cause CO2 | 9.565** (0.0226) | 14.155*** (0.0023) | 14.548** (0.0125) |
CO2 does not Granger cause GDPC | 6.621* (0.0850) | 4.886* (0.0869) | 38.446*** (0.0000) |
Elec does not Granger cause GDPC | 14.069** (0.04642) | 6.798** (0.0274) | 13.929** (0.0161) |
GDPC does not Granger cause elec | 15.033** (0.0131) | 6.516** (0.0385) | 11.359** (0.0447) |
Panel E: Natural gas consumption |
|
|
|
Nat gas does not Granger cause CO2 | 25.361*** (0.0012) | 8.308** (0.0157) | 9.004** (0.0111) |
CO2 does not Granger cause nat gas | 27.875*** (0.0000) | 6.048** (0.0486) | 6.073** (0.0480) |
GDPC does not Granger cause CO2 | 6.607* (0.0855) | 4.806* (0.0904) | 13.137*** (0.0014) |
CO2 does not Granger cause GDPC | 17.53*** (0085) | 7.380** (0.0250) | 0.195 (0.9067) |
Nat gas does not Granger cause GDPC | 14.754** (0.0247) | 6.629** (0.0363) | 6.865** (0.0387) |
GDPC does not Granger cause nat gas | 4.076 (0.2533) | 7.901** (0.0192) | 8.561** (0.0138) |